The chances that the U.S. economy will tip into recession at some point in the next 12 months have jumped to 100 percent, according to a model projection from Bloomberg Economics, with the grim forecast standing in sharp contrast to the Biden administration’s upbeat tone on the economy ahead of the midterms.
The updated recession odds, released on Oct. 17, are far higher than the prior Bloomberg Economics estimate of a 65 percent chance for a downturn.
